Eldorado Gold (NYSE:EGO) Shares Gap Down to $9.66

Eldorado Gold Co. (NYSE:EGO) (TSE:ELD)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $9.66, but opened at $9.39. Eldorado Gold shares last traded at $9.32, with a volume of 30,368 shares.

A number of research firms have recently issued reports on EGO. Zacks Investment Research downgraded shares of Eldorado Gold from a “buy” rating to a “hold” rating in a research report on Thursday, September 23rd. TD Securities reduced their price target on shares of Eldorado Gold from $12.00 to $11.50 and set a “hold” rating on the stock in a research report on Tuesday, November 2nd. National Bank Financial raised their price target on shares of Eldorado Gold from C$17.50 to C$18.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 13th. TheStreet raised shares of Eldorado Gold from a “d+” rating to a “c” rating in a report on Tuesday, November 2nd. Finally, BMO Capital Markets reaffirmed a “buy” rating on shares of Eldorado Gold in a report on Friday, October 1st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Eldorado Gold presently has an average rating of “Hold” and a consensus target price of $15.41.

The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -22.36, a PEG ratio of 3.10 and a beta of 1.45. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.34 and a current ratio of 4.28. The company’s 50 day simple moving average is $9.07 and its 200 day simple moving average is $9.62.

Eldorado Gold (NYSE:EGO) (TSE:ELD) last released its earnings results on Thursday, October 28th. The basic materials company reported $0.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.04. The firm had revenue of $238.44 million for the quarter. Eldorado Gold had a negative net margin of 7.89% and a positive return on equity of 4.03%. During the same period in the previous year, the business posted $0.33 EPS. Sell-side analysts predict that Eldorado Gold Co. will post 0.63 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Citigroup Inc. grew its stake in shares of Eldorado Gold by 99.9% in the 1st quarter. Citigroup Inc. now owns 2,399 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 1,199 shares during the last quarter. New York State Common Retirement Fund acquired a new position in shares of Eldorado Gold in the 2nd quarter worth approximately $55,000. SG Americas Securities LLC acquired a new position in shares of Eldorado Gold in the 3rd quarter worth approximately $82,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of Eldorado Gold in the 3rd quarter worth approximately $97,000. Finally, Vident Investment Advisory LLC acquired a new position in shares of Eldorado Gold in the 3rd quarter worth approximately $102,000. 57.08% of the stock is currently owned by institutional investors.

Eldorado Gold Company Profile (NYSE:EGO)

Eldorado Gold Corp. engages in the mining, development and exploration of gold. It has mining operations, ongoing development projects and exploration in Turkey, Canada, Greece, Brazil, Romania and Serbia. The company was founded by Richard J. Barclay, Marco Antonio Romero, and Gary D. Nordin on April 2, 1992 and is headquartered in Vancouver, Canada.

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